NEWS
Technically Speaking Blog
Darin Newsom DTN Senior Analyst
Sun May 24, 2015 06:48 AM CDT

Live Cattle: The June contract closed $0.40 lower at $152.125 last week. While the secondary (intermediate-term) trend remains up, weekly stochastics are nearing a bearish crossover above the overbought level of 80%. If established this would confirm the recent double-top formation near $154.825, a price that marks the 67% retracement level of the previous downtrend from $162.925 through the low of $138.60.

Feeder Cattle: The August contract closed $0.60 higher at $219.00 last week. The contract is testing resistance between $217.30 and $222.20, prices that mark the 50% and 61.8% retracement levels respectively of the initial sell-off from $237.95 ...

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